HVACvsPAVEETF Comparison
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AdvisorShares HVAC and Industrials ETF (HVAC) belongs to the Uncategorized Equities segment. Global X U.S. Infrastructure Development ETF (PAVE) is part of the Infrastructure segment. HVAC's top 3 sector exposures are Industrials, Information Technology and Consumer Discretionary. In contrast, PAVE's top sector exposures are Industrials, Materials and Utilities. HVAC is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.47% for PAVE. HVAC is up 25.98% year-to-date (YTD) with +$4M in YTD flows. PAVE performs worse with 15.39% YTD performance, and +$1.38B in YTD flows. Run a side-by-side ETF comparison of HVAC and PAVE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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HVAC vs PAVE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HVAC PAVE | +20.02%+12.11% | +12.92%+7.59% | +25.98%+15.39% | +71.71%+45.77% | n/a+102.93% | n/a+118.40% |
| Flows | HVAC PAVE | +$326K+$305M | +$4M+$1.01B | +$4M+$1.38B | +$8M+$2.02B | -+$3.93B | -+$4.74B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HVAC PAVE | +35.39%+23.77% | +25.93%+18.64% | n/a+20.39% | n/a+21.94% |
| Max drawdown | HVAC PAVE | -14.84%-11.91% | -14.84%-11.91% | n/a-26.27% | n/a-26.27% |
| Max drawdown duration | HVAC PAVE | 44d59d | 44d59d | n/a239d | n/a239d |
Trading data
HVAC | PAVE | |
Last sale 4/30/2026 at 1:30 PM | $39.85 | $56.79 |
| Previous close 04/29/2026 | $39.25 | $55.13 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 29, 2026
1-year trailing difference
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HVAC
is actively managed and doesn’t replicate an indexHVAC | PAVE | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/30/2026 at 1:30 PM
Live
Closed
HVAC | PAVE | |
|---|---|---|
| Last price | $39.85 | $56.79 |
| 1D performance | +1.52% | +3.01% |
| AuM | $9.56 M | $12.92 B |
| E/R | 0.89% | 0.47% |
Characteristics
HVAC | PAVE | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AdvisorShares | Global X |
| Benchmark | - | Indxx U.S. Infrastructure Development Index |
| N° of holdings | 24 | 91 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 3, 2025 | March 6, 2017 |
| ESG | No | No |
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Exposure
Countries
HVAC
USA
90.73%
Other
9.27%
PAVE
USA
87.88%
Ireland
9.93%
Other
2.2%
Sectors
HVAC
Industrials
66.74%
Information Techn.
13.03%
Other
20.23%
PAVE
Industrials
68.61%
Materials
19.86%
Other
11.53%
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Diversification
HVAC
Total weight of top 15 holdings out of 15
64.51%
PAVE
Total weight of top 15 holdings out of 15
46.17%
Top 15 holdings
Data as of March 31, 2026
HVAC
COMFORT SYSTEMS USA
5.87%
BWX TECHNOLOGIES INC
5.09%
JABIL CIRCUIT
4.99%
FLOWSERVE
4.83%
US36828A1016
4.64%
AMPHENOL
4.49%
VERTIV HOLDINGS
4.43%
FLUOR
4.19%
STERLING INFRASTRUCTURE INC
3.96%
AMETEK
3.85%
PARKER HANNIFIN
3.81%
WILLDAN GROUP
3.80%
CURTISS WRIGHT
3.57%
BELDEN
3.55%
DOVER
3.44%
PAVE
QUANTA SERVICES
3.59%
SEMPRA ENERGY
3.54%
CSX
3.50%
DEERE
3.34%
TRANE TECHNOLOGIES PLC
3.26%
UNION PACIFIC U
3.25%
EATON CORP PLC
3.24%
HOWMET AEROSPACE INC
3.23%
FASTENAL
3.17%
NORFOLK SOUTHERN
3.07%
PARKER HANNIFIN
2.88%
EMERSON ELECTRIC
2.58%
ROCKWELL AUTOMAT
2.58%
CRH PLC
2.58%
UNITED RENTALS
2.35%
Frequently asked questions about HVAC and PAVE
How have the HVAC and PAVE ETFs performed in 2026?
As of April 28, 2026, HVAC is up 25.98% year-to-date (YTD), while PAVE has returned 15.39%. That puts HVAC better performer ahead so far this year.
Which ETF is attracting more investor money: HVAC or PAVE?
Year-to-date, the HVAC ETF saw +$4M in flows, compared to +$1.38B for PAVE.
Which ETF is more volatile: HVAC or PAVE?
Over the past year, HVAC had a volatility of 25.93%, while PAVE experienced 18.64%.
Which ETF is bigger: HVAC or PAVE?
As of April 28, 2026, HVAC holds $9.56 M in assets under management (AUM), while PAVE manages $12.92 B.
What sectors do the HVAC and PAVE ETFs invest in?
HVAC leans toward sectors like Industrials and Information Technology. Meanwhile, PAVE focuses on Industrials and Materials.
What are the top holdings of the HVAC ETF and PAVE ETF?
HVAC top holdings include COMFORT SYSTEMS USA, BWX TECHNOLOGIES INC and JABIL CIRCUIT. PAVE holds in its top three: QUANTA SERVICES, SEMPRA ENERGY and CSX.
Which ETF is more diversified: HVAC or PAVE?
HVAC holds 25 securities with 64.51% of its assets in the top 15. PAVE has 99 securities and a top 15 weight of 46.17%.
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